(14) COMMITMENTS

12 Months Ended

Dec. 31, 2011

Commitments and Contingencies Disclosure [Text Block]

(14) COMMITMENTS

(A) Operating Leases

The Company leases office and laboratory space in New York City. The lease agreement for the New York City facility is a non-cancelable lease, subject to annual increases based on the Consumer Price Index, and will expire on December 31, 2015.

Future minimum rental payments under the non-cancelable operating lease, exclusive of future cost of living and tax escalation increases, are as follows:

2012		325,680
2013		325,680
2014		325,680
2015		325,680
Total	$	1,302,720

Rent expense for all non-cancelable operating leases was $348,788 and $344,336 for the years ended December 31, 2011 and 2010, respectively.